CA AB464

Expands the list of projects that Enhanced Infrastructure Financing Districts (EIFDs) may finance to include acquisition, construction, or repair of commercial structures by small businesses with 100 or fewer employees and average annual gross receipts of $15,000,000 or less, if intended to foster economic recovery from the COVID-19 pandemic and ensure long-term economic sustainability.

Allows districts to set lower thresholds than the $15,000,000 gross receipts limit and 100-employee cap for defining eligible small businesses.

Adds facilities where nonprofit community organizations provide health, youth, homeless, and social services to the list of fundable projects.

Maintains existing EIFD funding authority for public capital facilities including housing, industrial structures, transit facilities, utilities, parks, and other specified communitywide projects.

Approved by Governor June 28, 2021.